Technology News

Europe closes in on tax havens; Austria agrees to swap bank data

By John O'Donnell BRUSSELS | Wed May 22, 2013 8:17am EDT BRUSSELS (Reuters) - Europe moved closer to ending banking secrecy on Wednesday after Austria dropped objections to sharing data on foreign depositors and the EU focused on negotiating a similar agreement with Switzerland. "It's a bad day for tax cheats," Austrian Chancellor Werner Faymann told reporters at a ...

22 May 12:17 PM 0 Read More...

EU leaders shine spotlight on Amazon, Google over tax policy

By Luke Baker BRUSSELS | Wed May 22, 2013 7:57am EDT BRUSSELS (Reuters) - European leaders will discuss how to combat aggressive tax avoidance by major companies such as Amazon, Google and Apple at a summit on Wednesday, and cut the estimated 1 trillion euros a year the EU loses to tax evasion or avoidance. The four-hour summit was originally called to discuss energ...

22 May 11:57 AM 0 Read More...

Ireland feels the heat from Apple tax row

By Tom Bergin LONDON | Tue May 21, 2013 9:22pm EDT LONDON (Reuters) - Apple's (AAPL.O) ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. A U.S. Senate investigation revealed Tuesday that Apple, maker of iPhones, iPads and Mac...

22 May 11:39 AM 0 Read More...

Entertaining change: Sony to look at activist's spin-off idea

By Tim Kelly TOKYO | Wed May 22, 2013 5:35am EDT TOKYO (Reuters) - Few foreign activist investors have made much headway in forcing change in Japan, where a conservative corporate culture favors long-standing ties with banks, business partners and workers rather than shareholders seeking value. Struggling electronics giant Sony Corp, though, with more foreign and fe...

22 May 9:35 AM 0 Read More...

Sony to assess spin-off plan; cuts targets for cameras, smartphones

By Tim Kelly TOKYO | Wed May 22, 2013 3:29am EDT TOKYO (Reuters) - Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13-17 percent for the year to end-March 2015, but said there were "encouraging" signs of a revival in its electronics business. CEO Kazuo Hirai told a press briefing on Wednesday that Sony would assess a proposal from its...

22 May 7:29 AM 0 Read More...

The Irish loophole behind Apple's low tax bill

By Tom Bergin LONDON | Tue May 21, 2013 9:22pm EDT LONDON (Reuters) - Apple's (AAPL.O) ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. A U.S. Senate investigation revealed Tuesday that Apple, maker of iPhones, iPads and Mac...

22 May 1:22 AM 0 Read More...

Some U.S. utilities say they're under constant cyber attack

By Alina Selyukh and Jim Finkle WASHINGTON/BOSTON | Tue May 21, 2013 5:47pm EDT WASHINGTON/BOSTON (Reuters) - Several power utilities say they face a barrage of cyber attacks on their critical systems, a report by two Democratic lawmakers found echoing warnings from the Obama administration that foreign hackers were trying to bring down the U.S. power grid. Californ...

21 May 9:47 PM 0 Read More...

Apple CEO makes no apology for company's tax strategy

By Patrick Temple-West and Kevin Drawbaugh WASHINGTON | Tue May 21, 2013 5:37pm EDT WASHINGTON (Reuters) - Apple Inc Chief Executive Tim Cook made no apology on Tuesday for the iPad maker saving billions of dollars in U.S. taxes through Irish subsidiaries and told lawmakers that his company backs corporate tax reform, even though it may end up paying more. The Senat...

21 May 9:37 PM 0 Read More...

Court revives lawsuit vs Electronic Arts over video game image

By Jonathan Stempel Tue May 21, 2013 5:16pm EDT (Reuters) - A divided federal appeals court has revived a lawsuit against Electronic Arts Inc by a former Rutgers University star football quarterback, who accused it of using his image in a video game without permission. By a 2-1 vote, the 3rd U.S. Circuit Court of Appeals said on Tuesday that Ryan Hart, who played for Rutgers...

21 May 9:16 PM 0 Read More...

Is Sony un-Japanese enough to entertain change?

By Tim Kelly TOKYO | Tue May 21, 2013 5:12pm EDT TOKYO (Reuters) - Few foreign activist investors have made much headway in forcing change in Japan, where a conservative corporate culture favors long-standing ties with banks, business partners and workers rather than shareholders seeking value. Struggling electronics giant Sony Corp, though, with more foreign and fe...

21 May 9:12 PM 0 Read More...